Great Western Minerals Group Ltd.

Great Western Minerals Group Ltd.

July 08, 2010 11:50 ET

Great Western Minerals Group Commences $1 Million True Blue REE Exploration Program

SASKATOON, SASKATCHEWAN--(Marketwire - July 8, 2010) - Great Western Minerals Group (TSX VENTURE:GWG) (OTCQX:GWMGF) (PINK SHEETS:GWMGF) ("GWMG" or the "Company") today reported on the commencement of its Rare Earth Element (REE) exploration program at the True Blue Property located 55 kilometres south of Ross River, Yukon.

In March 2010, True North Gems Inc. (TGX) and Great Western Minerals Group Ltd. announced that TGX had granted GWMG an option to acquire up to a 65% working interest in TGX's True Blue property and Area of Interest in exchange for carrying TGX through to completion of a bankable feasibility study.

John Pearson, Vice-President, Exploration with Great Western Minerals Group said, "The purpose of the True Blue exploration program, in which GWMG has committed to spend $1 Million in 2010, is to determine the surface dimensions of the currently known Rare Earth Element mineralization and identify new areas of mineralization in the area encompassed by the True Blue syenite and host rocks."

The exploration program commenced in mid-June and is scheduled to continue to late August, 2010. The exploration program will include the following:

  • An evaluation of known REE showings through a program of geological mapping and soil geochemical sampling of the area around the showings, followed by a detailed mapping and systematic sampling of the showings,
  • Geological mapping of the entire property,
  • A low level, high resolution heliborne magnetic and radiometric survey to be flown over the entire host syenite and its metamorphic aureole in order to assist in identifying other REE showings and to aid in the geological mapping of the property,
  • Stream sediment sampling of the property in order to identify new areas of REE,
  • Prospecting of the area around anomalies identified by the airborne geophysical survey and the stream sediment geochem survey, and
  • Metallurgical testing of the REE showings including QEMSCAN to detail the REE mineral phases present and also preliminary metallurgical testing for extraction of the REE.

GWMG's Vice President Exploration, John Pearson, M.Sc., P.Geo., is the qualified person responsible for the technical data presented in this release.

Jim Engdahl, President and CEO

Great Western Minerals Group Ltd. is an integrated Rare Earths producer. Its specialty alloys are used in the battery, magnet and aerospace industries. Produced at the Company's wholly-owned subsidiaries Less Common Metals Limited in Birkenhead, UK and Great Western Technologies Inc. in Troy, Michigan, these alloys contain aluminum, nickel, cobalt and Rare Earth Elements. As part of the Company's vertical integration strategy, GWMG holds an option with respect to the former Rare Earths producing Steenkampskraal mine in South Africa as well as seven Rare Earth exploration and development properties in North America.

Certain information set out in this News Release constitutes forward-looking information. Forward-looking statements (often, but not always, identified by the use of words such as "expect", "may", "could", "anticipate" or "will" and similar expressions) may describe expectations, opinions or guidance that are not statements of fact and which may be based upon information provided by third parties. Forward-looking statements are based upon the opinions, expectations and estimates of management of GWMG as at the date the statements are made and are subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. Those factors include, but are not limited to the satisfaction by GWMG of the conditions required to exercise the option, receipt of all required approvals and risks, uncertainties and other factors that are beyond the control of GWMG, risks associated with the industry in general, commodity prices and exchange rate changes, operational risks associated with exploration, development and production operations, delays or changes in plans, risks associated with the uncertainty of reserve estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. In light of the risks and uncertainties associated with forward-looking statements, readers are cautioned not to place undue reliance upon forward-looking information. Although GWMG believes that the expectations reflected in the forward-looking statements set out in this press release or incorporated herein by reference are reasonable, it can give no assurance that such expectations will prove to have been correct. The forward-looking statements of GWMG contained in this News Release, or incorporated herein by reference, are expressly qualified, in their entirety, by this cautionary statement and the risk factors contained in GWMG's current annual information form.

CUSIP: 39141Y 10 3

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Great Western Minerals Group
    Dwight Percy
    Manager of Investor Relations
    (306) 659-4500
    Great Western Minerals Group
    226 Cardinal Crescent
    Saskatoon, SK S7L 6H8